Independent directors may take decisions if Govt-RBI standoff continues

Only the 11 independent directors are eligible to vote with the RBI governor having a second or casting vote in the event of a tie

The Reserve Bank of India’s (RBI’s) board meeting on November 19 will be one of the most anticipated events in the recent history of the central bank. Coming after a public stand-off between the government and the RBI for over a month, both sides will present their views on the problem areas.

At the core of the dispute are a few key issues. One, 11 public sector banks (PSBs) are under the RBI’s prompt corrective action, which curtails their lending ability. The finance ministry wants the RBI to relax some of the constraints. The government is also concerned about liquidity